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Jun 21, 2013
06/13
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i think it needs to broaden the economy. that's very, very difficult for brazil at the moment. >> i mean, it does -- all roads lead to china. this is where, you know, this liquidity story, the timing of the pboc decision to try and teach the bank and the financial system a lesson is -- is really unfortunate. because, as you were saying earlier, it's really bad timing coming at the same point as we're trying to come to terms with this -- or accurately price the prospect of fed tapering. and, you know, this does pose quite a growth risk going into the second half for china, i think. >> what is the -- what is this -- 7% growth rates from 9%. they're trying to rein in the credit in the secondary banking system, chris. how is that going to spill out into asian -- asian emerging markets? >> it's going to be -- it's going to be quite powerfully negative, i think. and i think the other thing as proliferation countries are dealing with is the yen. essentially japan is exporting deflation. they may be trying to create inflation in the
i think it needs to broaden the economy. that's very, very difficult for brazil at the moment. >> i mean, it does -- all roads lead to china. this is where, you know, this liquidity story, the timing of the pboc decision to try and teach the bank and the financial system a lesson is -- is really unfortunate. because, as you were saying earlier, it's really bad timing coming at the same point as we're trying to come to terms with this -- or accurately price the prospect of fed tapering....
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Jun 20, 2013
06/13
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economy and to cisco? >> i think this is where the fed deserves a lot of credit in the last couple of years. we haven't done things with deficit spending and repatriation to stimulate the economy. the fed used all of the skills that they had. so you've got a track record of calling it right. if they believe it's time to slowly taper back a little bit, the main thing is the economy is in better shape. >> it's not tapering that you want, you want tax reform in the united states. you want to get that money which you have to hold off shore for u.s. jobs, yes? >> the u.s. tax system is broken. we've waited for years for it to come back. we're assuming that's not going to happen. we don't think that it's going to happen. that's why you see me traveling throughout asia pacific, throughout europe and you've seen the majority of our acquisitions in the past year in terms of the big ones, at least half over seas. >> you can't repay the try eight the $47 billion? >> i can't repay the try eight the $47 billion. i'm on
economy and to cisco? >> i think this is where the fed deserves a lot of credit in the last couple of years. we haven't done things with deficit spending and repatriation to stimulate the economy. the fed used all of the skills that they had. so you've got a track record of calling it right. if they believe it's time to slowly taper back a little bit, the main thing is the economy is in better shape. >> it's not tapering that you want, you want tax reform in the united states. you...
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Jun 19, 2013
06/13
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to the fed's forecast for the economy. if you look at the march forecasts, they were still forecasting 2013 gdp at 2.5%. and while i don't think they will go down to the sort of level that the imf was forecasting at 1.9 last friday, down grading that forecast of gdp, downgrading their inflation forecasts to levels which they previously described as sub optimal should offer markets some reassurance that as much as bernanke will stress tapering probably is going to happen, it's a matter of when. and he won't pre-judge his options. it's not something which means immediately that interest rates are going to rise. one of the things that markets seem to have to gotten, that when the fed outlined its qe exit plan in 2011, it did actually say the first thing it would do was not raise interest rates but stop rolling off or reinvesting maturing debt. >> the other thing of course is they won't be buying any fresh stuff even when they stop. and tapering doesn't mean they stop buying, just stop buying 85 billion a month. if they went f
to the fed's forecast for the economy. if you look at the march forecasts, they were still forecasting 2013 gdp at 2.5%. and while i don't think they will go down to the sort of level that the imf was forecasting at 1.9 last friday, down grading that forecast of gdp, downgrading their inflation forecasts to levels which they previously described as sub optimal should offer markets some reassurance that as much as bernanke will stress tapering probably is going to happen, it's a matter of when....
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Jun 18, 2013
06/13
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you know, it's still an economy full employment. we wish a lot of the european economies would have that situation. i find it difficult to find good talent at a reasonable price there. we have a team in brazil, 15 analysts there, and it's just an antidotal evidence, but it is proven to point. >> marfrig, what do they do? >> marfrig is a meat producer, one of the largest meat producers in brazil, and cernig is a utility company. >> okay. why do those two -- >> well, marfrig enjoys from the fact we're the commodity cycle, brazil is one of the lowest cost producers in beef. so, in a scenario where foods demand is still on the rise, we think they're going to do very, very well. we think that the balance sheet issues are going to be overcome. so, it's a restructuring story as well. on the cemig side, utilities in brazil have suffered quite a bit from the utility bill and the tariff provisions. what we're saying here is going forward, that's already in the price, so going forward, the outlook looks good. >> cemig, as we come back to talk
you know, it's still an economy full employment. we wish a lot of the european economies would have that situation. i find it difficult to find good talent at a reasonable price there. we have a team in brazil, 15 analysts there, and it's just an antidotal evidence, but it is proven to point. >> marfrig, what do they do? >> marfrig is a meat producer, one of the largest meat producers in brazil, and cernig is a utility company. >> okay. why do those two -- >> well,...
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Jun 17, 2013
06/13
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a year as much as 10 billion pounds in the uk economy. there are some concerns that the french might scoff at this because they want exceptionalism for their enterprises. elsewhere, some form of deal on tax evasion could be on the agenda. they're trying to get companies and individuals globally to have some sort of register of interest which will cut down on that avoidance and evasion well. shinzo abe in town explaining once again how japanese abenomic policies are aimed at the domestic economy and not destabilizing global currency markets, although it is noticeable ahead of this meeting there's been less rhetoric against the japanese than there was ahead of the recent g-20 which i attended in moscow. it's all to play for still here over the next 48 hours, ross. back to you. >> all right. that's steve with the latest from northern ireland. >>> u.s. markets after being down three out of the last four weeks called higher this morning at the hope as far as futures are concerned. the s&p 500 currently around 40 points. the nasdaq is about 31
a year as much as 10 billion pounds in the uk economy. there are some concerns that the french might scoff at this because they want exceptionalism for their enterprises. elsewhere, some form of deal on tax evasion could be on the agenda. they're trying to get companies and individuals globally to have some sort of register of interest which will cut down on that avoidance and evasion well. shinzo abe in town explaining once again how japanese abenomic policies are aimed at the domestic economy...
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Jun 21, 2013
06/13
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the economy is quite tight in terms of capacity, so they need the extra investment. but it really is that stubborn headline inflation at over 7% that is creating problems, just easing monetary conditions. but if russia is not careful, it's going to be swept up in the same kind of liquidity issues that now markets of royal buyers, they see the 10-year treasury bond yield rising and worry about tapering, ross. we already saw the russian market off a couple percent as they reacted to that tapering story. let me send it back to you. >> jeffrey, take another break now. i hope we haven't interrupted your morning. >> yeah. well, i have -- you see i've got a little trau of biscuits here i might indulge in. >> good. >> when you go back to london. >> lovely. all right. carry on. we'll have more. we'll come back and interrupt you a little bit later, jeff. >>> samsung has unveiled a water resistant version of its
the economy is quite tight in terms of capacity, so they need the extra investment. but it really is that stubborn headline inflation at over 7% that is creating problems, just easing monetary conditions. but if russia is not careful, it's going to be swept up in the same kind of liquidity issues that now markets of royal buyers, they see the 10-year treasury bond yield rising and worry about tapering, ross. we already saw the russian market off a couple percent as they reacted to that tapering...
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Jun 15, 2013
06/13
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have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balance sheets, which is why we're not in the shape of china or brazil or india. can you imagine we're doing better than all of those places? tuesday we have a slew of japanese industrial production reports. we've got machine tools. we've got merchandise trade deficits. now, for years, i couldn't care less about this stuff. i could care less. i mean, really, like japan. it stopped meaning anything for a decade. these days, market players are drawn to japan because the government has a policy of driving its own currently down to build exports. if the data is positive here, japan's stock market will rocket. and if it doesn't and the government has nothing to say about it, like 6% declines lik
have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balance sheets, which is why we're not in the shape of china or brazil or india. can you imagine we're doing better than all of those places?...